Análisis de la contabilidad de seguros en Ecuador: desafíos en la aplicación de las Normas Internacionales de Información Financiera (NIIF17) en las compañías aseguradoras domiciliadas en la ciudad de Quito.

Abstract

This article analyzes the main technical and operational challenges faced by insurance companies in Quito, Ecuador, during the implementation of International Financial Reporting Standard (IFRS) 17 in their accounting practices. The research used both qualitative and quantitative approaches, including a documentary analysis of accounting regulations with an emphasis on IFRS 17, and interviews with specialists from the insurance and accounting sectors. Structured surveys were also conducted to collect information. These methodologies combined to provide a more comprehensive perspective on the application of IFRS 17 in Quito-based insurance companies. Among the main findings, it was identified that most respondents 44.40% are “moderately familiar” with IFRS 17. This suggests that, while there is a basic understanding, in-depth knowledge and practical application skills may be limited. Additionally, 50% of respondents considered the implementation of IFRS 17 to be “complex.” Determining the Contractual Service Margin (CSM) was noted as a significant technical challenge for 55.60% of companies. The most common technical challenges were the lack of trained personnel and technological limitations, each reported by 33.30% of respondents. It was also noted that the adjustment required for the valuation of insurance contract liabilities had a “significant impact” for 61.10% of respondents. The conclusions indicate that insurers in Quito face serious technical and operational challenges in applying IFRS 17. On the technical side, key challenges include the complexity of new actuarial calculations, the need to update systems, and the lack of comprehensive solutions tailored to the Ecuadorian context. Operationally, companies must restructure internal processes, enhance integration between accounting, financial, and actuarial departments, and develop human capital through training. IFRS 17 introduced a radical change in the measurement, presentation, and disclosure of insurance contracts, improving the clarity, consistency, and comparability of financial information